I disagree. There's a 0% chance the Apple Watch's entry price increases above $349, which means Fitbit needs to offer an incredibly compelling product below tha

I disagree. There's a 0% chance the Apple Watch's entry price increases above $349, which means Fitbit needs to offer an incredibly compelling product below that price. That's difficult, given that both Apple Watch and Android Wear integrate so tightly with their respective OSes. There's a market for fitness devices, sure, but the ceiling on it is now $349 (and likely dropping). Fitbit et al. won't capture high margins below that point long-term, and it's much more likely (IMO) they offer a commoditized hardware product with complimentary "insight" services (which is, itself, a perilous market). There isn't a lot of room for profit in such a market.